Tuesday, October 14, 2008

Romania cbank: no reason to relax policy too much

BUCHAREST, Oct 13 (Reuters) - Romania's central bank has no reason to relax its monetary policy stance 'too much' at present, central bank governor Mugur Isarescu said on Monday.

'Right now we do not have a reason to relax our monetary policy elements too much,' Isarescu told reporters.

The central bank left its benchmark rate unchanged at 10.25 percent at its last monetary policy meeting, for the second time in a row, after a tightening cycle of 325 basis points which started last October.

Isarescu said earlier that the bank had asked for currency exchange rates

quotes from the market on Monday but did not seek to support the leu. Speaking later, he added that such practice could be repeated whenever 'anomalies occur.'

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